Rick Satterwhite, 62, eyes rising water from the Missouri River as it creeps closer to the house where he grandchildren live in South Sioux City, Neb., on Monday, June 24, 2024.
In Iowa, for example, consulting firm Milliman estimates that in 22 of the counties covered by the governor's disaster proclamations, less than one per cent of single-family homes have flood insurance from the government, which issues the vast majority of policies. “I don’t think people have a personal experience with floods like this very often,” said Nathan Young, associate director of the Iowa Flood Center.
“I don’t believe that insurance is the answer to life’s problems,” he said. “I would say we made a very well informed decision, but in this case, we got burned.” There is some help available for the uninsured. The federal government's disaster declaration for parts of the flooded area allows it to issue grants and low interest loans to help with temporary housing, some home repairs and essentials like cleaning supplies and baby formula.
One problem is that FEMA is prohibited from discounting premiums for low-income residents, according to Rob Moore, director of flooding solutions at the Natural Resources Defense Council.And when rebuilding starts, that's the easiest time to mitigate the risk of the next flood, said Chad Berginnis, executive director of the Association of State Floodplain Managers.
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